Accountability Accelerator, 3rdRisk and Deloitte: A collaboration to improve nature
Deloitte has partnered with Accountability Accelerator to transform the validation of science-based nature targets. This partnership tackles challenges like slow assessments and complex Excel-based processes by introducing 3rdRisk, a digital third-party risk assessment platform. Set to launch in 2025, 3rdRisk offers a comprehensive solution for managing the end-to-end validation process of environmental targets.
The Science Based Targets Network (SBTN), part of the Global Commons Alliance, offers guidance to organisations aiming to reduce their environmental impact across various ecosystems. With Deloitte's collaboration, Accountability Accelerator ensures that these targets are reviewed efficiently and reliably by independent experts.
Over recent months, Deloitte and 3rdRisk have customised the Accountability Accelerator platform to function as a one-stop solution for their needs. This platform:
- Centralises the entire process from submission to final reporting, allowing for the creation of action plans and iterative assessment rounds;
- Provides a secure environment for data sharing;
- Implements a functional query system for interactions between companies and validators;
- Ensures consistent and smooth data submissions; and
- Generates branded assessment reports.
As more companies embrace science-based targets, the platform is built to handle increased assessment volumes while maintaining strong performance. By utilising innovative methods and focusing on corporate accountability, this combined effort assists businesses in achieving their targets, reducing their impact on nature and society, and aligning business practices with environmental and social responsibility.
"The collaboration marks a significant advancement in the validation of science-based environmental targets. Our joint effort with Accountability Accelerator has successfully translated and embedded the dynamic process of science-based target validation for nature into a practical and user-friendly platform. This collaborative achievement empowers companies to set credible nature targets. We eagerly anticipate their continued success and contribution to a sustainable legacy for all."
Peter Schaap, Partner at Deloitte
Together, this partnership establishes a solid foundation for future advancements in sustainability and corporate accountability. It offers versatile solutions that empower companies to achieve meaningful reductions in their environmental impact and uphold their commitments to sustainable practices. Beyond this initiative, 3rdRisk is also capable of supporting companies meet compliance with important sustainability directives such as the Corporate Sustainability Due Diligence Directive (CSDDD), EU Deforestation Regulation, and the Uyghur Forced Labor Prevention Act.
Article Contributor:
Kamilla Dajani - Senior Consultant (Digital Risk Solutions)
